The diagram below shows a situation where the country would export the good. Price of Pencil Sharpeners $24 Domestic Supply World Price 16 12 Domestic Demand Quantity of Pencil Sharpeners 200 300 450 a.) How much will it export if free trade is allowed? b.) If the country goes from autarky to free trade the producer surplus will increase by $. pencil sharpeners
The diagram below shows a situation where the country would export the good. Price of Pencil Sharpeners $24 Domestic Supply World Price 16 12 Domestic Demand Quantity of Pencil Sharpeners 200 300 450 a.) How much will it export if free trade is allowed? b.) If the country goes from autarky to free trade the producer surplus will increase by $. pencil sharpeners
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section9.2: The Winners And Losers From Trade
Problem 2QQ
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Question
![The diagram below shows a situation where the country would export the good.
Price of
Pencil
Sharpeners
$24
Domestic
Supply
World
Price
16
12
Domestic
Demand
4
Quantity of
Pencil
Sharpeners
200
300
450
a.) How much will it export if free trade is allowed?
pencil sharpeners
b.) If the country goes from autarky to free trade the producer surplus will increase by $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff0aac786-f258-42a6-87e3-0118f536800f%2F20ef776f-b071-43b9-bb17-1425ee940e7c%2Fffhksgm_processed.png&w=3840&q=75)
Transcribed Image Text:The diagram below shows a situation where the country would export the good.
Price of
Pencil
Sharpeners
$24
Domestic
Supply
World
Price
16
12
Domestic
Demand
4
Quantity of
Pencil
Sharpeners
200
300
450
a.) How much will it export if free trade is allowed?
pencil sharpeners
b.) If the country goes from autarky to free trade the producer surplus will increase by $
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